Lumida
/PNW
⌘K
Pinnacle West Capital Corp

Pinnacle West Capital Corp

PNW
$107.73USD↓-1.43%-1.56 today

MARKET CAP

13.1B

P/E (TTM)

20.1x

FWD P/E

20.6x

DAY RANGE

$107 – $111

52W RANGE

$85
$111

AI Summary

Stalk
Buy NowMedium

PNW remains in a Stage 2 advancing regime with persistent higher highs and higher lows across timeframes. The long- and medium-term trends are bullish, and a short-term pullback into the rising EMA support zone offers a structurally favorable Buy Now entry despite overbought conditions.

  • ↑Customer base +2.2% in Q1 2026 led by semiconductor expansion
  • ↑EPS of $0.27 vs –$0.04 YoY signals operational resilience
  • ↓Rate‐case uncertainty may limit recovery of capex and O&M costs
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Pinnacle West Capital Corporation (NYSE: PNW) is a leading utility provider based in Arizona, primarily operating through its subsidiary, Arizona Public Service (APS). The company focuses on delivering reliable electricity to approximately 1.3 million customers, positioning itself strongly amidst an economic boom driven by the semiconductor industry's expansion. As Arizona becomes a hub for advanced manufacturing and data centers, PNW's strategic infrastructure investments are essential for accommodating growing energy demands.

Bull says

  • ↑Customer base +2.2% in Q1 2026 led by semiconductor expansion
  • ↑EPS of $0.27 vs –$0.04 YoY signals operational resilience
  • ↑Red Hawk expansion adds 400 MW natural gas capacity
  • ↑Dividend yield 3.4% and high earnings yield support income
  • ↑Strategic ties with TSMC anchor demand in Arizona tech boom
  • ↑Low share volatility and prudent leverage boost stability

Bear says

  • ↓Rate‐case uncertainty may limit recovery of capex and O&M costs
  • ↓Negative profitability trends amid rising operational and interest expenses
  • ↓Elevated debt reliance increases interest‐rate vulnerability on earnings
  • ↓Analysts lowering growth forecasts, reflecting muted long-term momentum
  • ↓High short interest underscores market skepticism on PNW’s outlook
  • ↓Weak profitability and subdued growth momentum heighten downside risk

Investment themes with PNW

High Dividend Yield↑ +0.32%

Companies paying above-average dividends

AVGO · JPM · XOM

Earnings Call · Q1 2025 · Mgmt. Guidance

Updated 06-15-2026neutral

Transcript signals

Bull points

  • Arizona has become a national leader in semiconductor and advanced manufacturing, which has attracted investments spanning the entire supply chain, including robotic manufacturing, advanced packaging, research and development, materials suppliers, and workforce development.
  • $100 billion investment by Taiwan Semiconductor Manufacturing Company beyond their original $65 billion investment.
  • In fact, TSMC held the groundbreaking for FAD3 this week as construction progress continues to advance.

Bear points

  • The primary objectives of this next rate case will be to recover costs and investments to secure a reliable and resilient grid, develop a modernized rate structure to support the unprecedented growth of high load factor customers in our service territory, and reduce regulatory lag while maintaining the lowest cost possible for customers.
  • Our current rates are based on test year expenses that go back to 2021, and we look forward to working with the Commission and stakeholders to update these costs while keeping rates affordable.
  • we can minimize regulatory lag.
Read full transcript analysis ›